A consumer's demand functions depend on:

Question

Quizplus · Accepted Answer

A consumer's demand functions mainly depend on two factors - her income and the prices of goods and services. Weakly convex indifference curves and careful mathematical analysis are important concepts in microeconomics, but they are not the primary determinants of a consumer's demand functions. The supply of goods and services may indirectly affect demand through price changes, but it is not directly related to a consumer's demand functions.

A Consumer's Demand Functions Depend On